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Maths in Business

Maths in Business is a free program available to all students at the University of Sydney Business School. The program includes workshops in intermediate-level maths and Excel; both fundamental skills for any aspiring business student.

Maths in Business

The Maths in Business program helps you to gain high achievement throughout your business degree. Most foundational units of study require a firm understanding of maths, and this is essential to senior units in accounting, business analytics and finance.

What’s involved

Maths in Business runs workshops from Weeks 2 to 6 each semester. They are structured to strengthen your basic knowledge of algebra before progressing to calculus and probability, after which you can refine your Excel skills.

We offer all subjects at beginner and intermediate levels.

Benefits of Maths in Business

Maths workshops are offered in a variety of areas, giving you the opportunity to:

  • master basic and intermediate maths skills in a welcoming environment
  • get ahead in subjects such as accounting, finance and statistics
  • meet new people in your course – a great way to break the ice when starting university
  • meet with a high-achieving maths tutor who understands your experiences
  • work with practice materials and resources that will enable you to build autonomously on your learning and understanding.

Workshops

Maths in Business will run the following workshops in 2017.

Business applications of algebra, exponentials, logarithms

Assumed knowledge: None

This workshop reviews basic algebraic functions with particular emphasis on quadratic, exponential and logarithmic functions. These functions often form the basis of various quantitative concepts that you may encounter during your studies in the Business School. This workshop also forms the basis for later Maths in Business workshops and is treated as assumed knowledge.

The learning outcomes for this workshop include:

  1. Factorising, solving and graphing both linear and quadratic functions.
  2. Reviewing and applying logarithmic rules.
  3. Reviewing and applying exponential rules.
  4. Understanding sigma notation.

Differentiation 1

Assumed knowledge: Business applications of algebra, exponentials and logarithms.

This workshop is an introductory course in differentiation. As a fundamental concept in calculus, the theory of differentiation will be explored. You will learn the meaning behind differentiation, first principles and several basic rules of differentiation.

The learning outcomes for this workshop include:

  1. Learning the theory behind differentiation, and differentiation by first principles.
  2. Understanding how to differentiate constants, polynomial, logarithmic and exponential functions.

Differentiation 2

Assumed knowledge: Business applications of algebra, exponentials and logarithms, and Differentiation 1.

This is the second differentiation workshop. It is intended for students who already have a grasp of basic differential calculus. Harder concepts such as the product, quotient and chain rules will be explored. You will also learn about applications of calculus in business.

The learning outcomes for this workshop include:

  1. Learning and applying the product, quotient and chain rules in differentiation.
  2. Understanding the process of finding maxima and minima using differentiation.
  3. Applying differentiation principles in a business context to maximise or minimise values.

Assumed knowledge: Business applications of algebra, exponentials and logarithms.

This workshop will introduce you to concepts in matrix algebra, including the use of fundamental operations and different types of matrices. This workshop will familiarise you with the use of matrices in solving simple algebraic problems in a business context.

The learning outcomes for this workshop include:

  1. Understanding terminology and notation related to matrix algebra
  2. Understanding and applying matrix addition, subtraction, multiplication and transposition.
  3. Understanding different types of matrices and how they are used.
  4. Applying matrices to solve business problems.
  5. Being able to apply matrices calculations in Excel.

Assumed knowledge: Business applications of algebra, exponentials and logarithms.

Recommended: Differentiation 1

This workshop will introduce you to different methods of solving simultaneous equations. The workshop will also cover inequalities, and business applications of inequalities and simultaneous equations.

The learning outcomes for this workshop include:

  1. Learning how to solve simultaneous equations using the substitution, elimination and graphical methods.
  2. Solving harder simultaneous equations involving a mixture of quadratic and linear functions.
  3. Applying simultaneous equations in a business context through analysing supply and demand functions.
  4. Learning how to solve linear and quadratic inequalities applying them to business problems.

Probability

Assumed knowledge: Business applications of algebra, exponentials and logarithms.

This workshop will cover fundamental probability concepts that you will come across during your studies in the Business School. The workshop will cover basic probability rules as well as introduce you to Bayes’ theorem in the context of conditional probability.

The learning outcomes for this workshop include:

  1. Understanding terminology related to probability.
  2. Learning to calculate the probability of mutually exclusive and independent events.
  3. Understanding and calculating conditional probabilities

Permutations and combinations and business applications of probability

Assumed knowledge: Business applications of algebra, exponentials and logarithms and Probability.

This workshop will introduce you to permutations and combinations. Probability concepts will also be applied to help solve business problems.

The learning outcomes for this workshop include:

  1. Understanding the difference between permutations and combinations.
  2. Applying permutations and combinations to solve various problems.
  3. Using probability trees to assist managerial decision making.
  4. Understanding the use of probability in business through the calculation of expected returns and forecasts.
  5. Applying probability concepts to interpret joint probability tables.

Business applications of Excel I (Beginners)

This workshop covers various excel functions that are highly relevant to your studies in the Business School, as well as within industry. You will learn what Excel is and how to use it for processing and manipulating various data sets. The workshops covers formatting, sorting, filtering, as well as an array of basic excel functions including SUM, AVERAGE, MEDIAN and COUNTIF. The workshop also covers simple graphing.

The learning outcomes for this workshop include:

  1. Familiarising yourself with the Excel environment and its components.
  2. Learning how to format, copy, sort and filter data.
  3. Learning how to fixate specific cells with the $ sign.
  4. Understanding how to apply a wide array of Excel functions.
  5. Learning to graph single data set plots.

Business applications of Excel II (Intermediate)

Recommended: Business applications of Excel I

This workshop covers various excel functions that are highly relevant to your studies in the Business School, as well as within industry. You will learn an array of advanced excel functions including VLOOKUP, SUMPROUCT and RANK, descriptive statistics and simple linear regressions. The workshop also covers graphing, with a focus on two-line graphing and sensitivity analysis.

The learning outcomes for this workshop include:

  1. Understanding how to apply the VLOOKUP function in searching for data.
  2. Learning to graph two data sets on a single plot.
  3. Learning how to generate descriptive statistics through Excel’s Data Analysis Tool-pack.
  4. Learning how to perform sensitivity analysis.
  5. Learning how to run a simple linear regression in Excel.

Maths in Business Office

Address
Rm 3043, Abercrombie Building (H70), The University of Sydney, NSW 2006
Maths in Business Staff
  • Jessica Morr (Project Coordinator - Maths in Business and PASS)
  • Sue Qian (Tutor)
  • Stephen Wu (Tutor)
  • Vycke Wu (Tutor)
  • Assaf Dekel (Tutor)
Last updated: 13 March 2017

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